At block height 12,965,000, or approximately 11:55 (UTC) on August 5, 2021, the Ethereum (ETH) blockchain is scheduled to undergo the London Hard Fork. In the event that the hard fork might result in an additional token, XT.COM has taken the following steps to reduce the trading risks brought about by price volatility and to maintain the safety of user funds during the hard fork as per the following:
1. ETH Deposits and Withdrawals XT.COM will suspend ETH and ERC-20 tokens deposits and withdrawals at around 11:45 (UTC) on August 5, 2021.
2. Regarding the ETH Hard Fork The two likely scenarios to occur with the Ethereum (ETH) London mainnet activation are: Scenario A: No new token is created. XT.COM will then resume ETH and ERC-20 tokens deposits and withdrawals as soon as possible. A further announcement will be posted.
Scenario B: The chain splits into two competing chains and a new token is created. XT.COM will credit users with ETH from the chain with the most work done. We will then also credit users with the token from the minority chain at a ratio of 1:1 based on the snapshot of ETH balances at block height 12,965,000, or 11:55 (UTC) on August 8, 2021, as stated above. Further details regarding this distribution will be stated in a separate announcement. XT.COM reserves the right to update the treatment of the chain split in a further announcement.
3. ETH and ERC-20 Tokens Spot, Margin, and Contract Trading Spot trading: ETH and ERC-20 tokens spot trading will not be affected. Please ensure you take sufficient risk measures as price volatility is often high during contentious hard forks.
Margin trading: ETH cross and isolated margin trading will not be affected. However, XT.COM will suspend ETH borrowing from 2021-08-03 08:00 (UTC) to approximately 2021-08-05 11:55 (UTC). Please note that liquidations remain possible under extreme price volatility.
Contract trading: Contract trading will not be affected. However, in the event of extreme price movements or deviation from the price index, please assess your financial circumstances and risk tolerance before trading.
4. Mining and Computing Power ETH staking and cloud mining will remain unaffected.
For further information, please refer to the following:
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August 4, 2021
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XT.COM reserves the right, at its discretion, to change, modify, or remove portions of the announcement at any time by posting the amended version on the website with or without notice.